This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

I am italian UK resident inherited property in Italy

Rossi
Posts:4
Joined:Wed Mar 07, 2012 2:03 pm
I am italian UK resident inherited property in Italy

Postby Rossi » Wed Mar 07, 2012 2:11 pm

Hello there,

I have a question for you.

I am an Italian professional, who's been working and living in UK for the last 16 tears.
I am regularly registered at AIRE at italian consulate and I pay my taxes only in UK.

I have just received an inheritance (together with other 2 relatives who are living in Italy).
Therefore it is 3 of us.

The solicitor in Italy told me that to receive the Inheritance Tax bill from the italian tax body I need to go to my consulate and ask them to activate
my Fiscal Domicile c/o an italian address (my parents for example), then I will receive the bill, i will need to pay it of course and then the process will move on.

NOW, my question is, Do I pay tax only in Italy? If not do I have to make any declaration to HMRC for the received inheritance?
If so what should I ask or say?

Please let me know if you need more details, otherwise I will wait for help from you.

Best regards,

:ugeek:

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: I am italian UK resident inherited property in Italy

Postby maths » Wed Mar 07, 2012 6:35 pm

What was the domicile status of the deceased?

What is the nature of the inheritance?

Rossi
Posts:4
Joined:Wed Mar 07, 2012 2:03 pm

Re: I am italian UK resident inherited property in Italy

Postby Rossi » Wed Mar 07, 2012 7:19 pm

She was my antie and she was domiciled in Italy.
She passed away and she left a will in favour of myself, my brother and my cousin.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: I am italian UK resident inherited property in Italy

Postby maths » Wed Mar 07, 2012 7:37 pm

It appears that any death taxes are payable in Italy only unless the property which you inherited is situated in the UK at the time of her death.

Rossi
Posts:4
Joined:Wed Mar 07, 2012 2:03 pm

Re: I am italian UK resident inherited property in Italy

Postby Rossi » Wed Mar 07, 2012 7:48 pm

The property inherited is in Italy, I have nothing in Italy in my name apart from this newly inherited flat.

You are telling me that I will pay taxes only in Italy and I have not to declare it here in UK?

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: I am italian UK resident inherited property in Italy

Postby maths » Wed Mar 07, 2012 7:56 pm

Correct.

Rossi
Posts:4
Joined:Wed Mar 07, 2012 2:03 pm

Re: I am italian UK resident inherited property in Italy

Postby Rossi » Wed Mar 07, 2012 8:17 pm

Thank you very much then I will follow you advice.

Regards

riccardob
Posts:130
Joined:Sun May 29, 2011 10:02 am

Re: I am italian UK resident inherited property in Italy

Postby riccardob » Thu Mar 22, 2012 8:12 pm

I don't understand why the italian authorities want you to have a fiscal domicile in italy.
At the end of the day one can leave his estate to anyone living anywhere in the world so it should not really be relevant.
You could be a foreign citizen, how are you supposed to have an address in Italy?


Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”